It appears that Debian 5.0 (aka “Lenny”) will soon take its big binocular eyes out into the wider world. The Debian project has completed the first release-candidate of Lenny's installer, which features much-improved support for ARM-based devices, along with much faster installation from “live” CDs.
Read it here
Remaining issues, according to Salvador, include:
i386: for this release, installation from floppy disk is not supported
PowerPC: the graphical installer should work on almost all systems with ATI graphics cards, but probably not others
touchpads should work with the graphical installer, but support may be suboptimal – if you experience problems, you should use an external mouse instead